Hariom Pipe Files Initial Public Offering (IPO) Papers With Sebi

Hariom Pipe Industries is a backward integration-focused firm primarily based in Hyderabad

Hariom Pipe Industries Limited (HPIL) has filed its draft crimson herring prospectus with SEBI for an preliminary public providing (IPO). The Hyderabad-headquartered firm's IPO will probably be a recent situation of 85 lakh shares, the corporate stated in its IPO papers. There won't be a suggestion on the market by current shareholders.

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The firm will use the IPO cash to fund its capital expenditure, working capital necessities and for basic company functions.

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Hariom Pipe Industries is a backward integration-focused firm because it produces all intermediate merchandise required for manufacturing its remaining merchandise, in-house. It has a various product combine, consisting of gentle metal (MS) billets, pipes and tubes, scorching rolled (HR) coils and scaffolding techniques.

The firm has a large distribution community throughout India, catering to housing, infrastructure, agriculture and engineering. It is planning to ascertain a brand new manufacturing plant in Sangareddy, Telangana with a complete estimated put in capability of 51,943 tonnes each year.

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ITI Capital is the only real book-running lead supervisor to the Hariom Pipe situation.